- Solis (SLMN) completes fourth hole – planning follow-up drilling at Mostazal Copper Project, Chile
- All four holes have now successfully encountered broad zones of copper sulphide mineralization
- Core logging highlighted widespread sulphide mineralization from traces to one per cent sulphides observed from the surface
- While Solis awaits assays from the first four holes, it is currently conducting a more detailed and deeper-penetrating geophysical program
- Solis Minerals Ltd. (SLMN) is up 15-percent, trading at C$0.23 at 10:48 am ET
Solis Minerals (SLMN) has completed the fourth hole in the first phase drilling campaign at its Mostazal Copper Project in Chile.
All four holes have now successfully encountered broad zones of copper sulphide mineralization, for the most part starting from the surface, supporting the potential for the existence of a large copper system at Mostazal.
The logging of the company’s fourth diamond hole (MODD004) is now complete and indicates that the hole has intersected mainly porphyritic amygdaloidal and andesitic volcanic rocks, lesser volcanic breccia and aphanitic andesite to the bottom of the hole.
Core logging highlighted widespread sulphide mineralization from traces to one per cent sulphides observed from the surface to the bottom of the hole.
The sulphide minerals observed include chalcopyrite, bornite, primary chalcocite and lesser pyrite.
CEO Jason Cubitt commented: “Drilling of our initial campaign at Mostazal was completed on time, on budget, and with significant intersections of copper sulphide mineralization in all four holes.”
“It’s clear from mineralization observed in drill core that a large copper-bearing system is present at depth and appears to be related to mineralization reported near-surface,” added Cubitt.
Hole MODD004 was a deep vertical hole drilled to 446.1m located due east of the main zone of the mantos mineralization, where mineralization is observed on the surface and exposed in the small-scale underground mines.
The fourth hole was designed to test the continuity of the manto style mineralization to the eastern part of the Mostazal manto deposit area where very little drilling has previously occurred.
While Solis awaits assays from the first four holes, it is currently conducting a more detailed and deeper-penetrating geophysical program, together with detailed structural and geological mapping, which, when combined with the pending assay results, will refine the targeting strategy for the second round of drilling at Mostazal.
Southern rock Geophysics based in Santiago, Chile has been engaged to conduct a geophysical survey, consisting of 12.9 line kilometres of Pole-Dipole Induced Polarisation and Magnetotellurics, and an additional 10.5 line kilometres of MT over previously surveyed IP lines.
The program of combined PDIP and MT is now underway; the PDIP will provide resistivity and chargeability sections to an effective depth of investigation well below 500m from the surface, while the MT will allow much deeper resistivity sections.
This survey is expected to be completed by mid-April.
This survey is designed to produce higher-fidelity modelling of the interpreted deep mineralized feeder system along the four-kilometre northeast-trending IP chargeability zone identified in historic work.
The survey will also provide a more comprehensive and deeper penetrating data set for the entire project area which will enhance the identification of both existing and new deep targets.
The company has begun the drill permitting process for its second phase in anticipation of the resumption of drilling.
The high level of exploration activity across the industry, as well as the ongoing impacts of COVID and the pressures that have been placed on workforces and service providers, has meant assays for the first holes are yet to be received by the company.
The company is confident we will start to see these results in the next few weeks.
Solis Minerals is a Latin American-focused mining exploration company.
The company may earn up to a 100 per cent interest in the Mostazal Copper Project in Chile’s Atacama Desert, one of the world’s premier copper production jurisdictions.
Solis Minerals Ltd. (SLMN) is up 15-percent, trading at C$0.23 at 10:48 am ET.
